CECO Environmental Announces New Orders Totaling $20 Million For The Energy Sector - Orders show continued success of the OneCECO sales initiatives
CINCINNATI, Aug. 4, 2014 /PRNewswire/ -- CECO Environmental Corp. (NasdaqGM: CECE), a leading global environmental technology company focused on critical solutions in the air pollution control (APC), energy and fluid handling and filtration industries, announced today that its Aarding Thermal Acoustics subsidiary ("Aarding") in The Netherlands recently received two large new orders totaling $20 million.
The first order is from Saudi Electricity for several natural gas power plants in the Middle East. This order was a direct result of the OneCECO sales platform initiative as Aarding & Effox, the two businesses that comprise CECO's Energy division, teamed up to provide a broader, more complete solution to win the order for the design, engineering and manufacture of 12 bypass exhaust systems. CECO's technology will be installed downstream of several large GE natural gas turbines.
The second significant order, also from Aarding, is for two large natural gas turbines for an Asian customer.
"I am very pleased with these significant new business wins as our focus on the OneCECO sales solutions initiative continues to show very positive results," says Jeff Lang, President and Chief Executive Officer of CECO. "The natural gas global mega trend is one of several powerful drivers for our business and our engineered solutions are critical to generating clean, efficient, and flexible energy capabilities around the globe. We are very excited with all of our team's efforts and our continued growing sales activity."
Martin Pranger and Norbert Pieterse, Managing Directors of Aarding`s global natural gas segment added, "These new orders underscore the increasing global demand for energy and our gas turbine exhaust technology. Our engineered solutions for the Energy sector are well positioned to leverage the dynamic and growing demand for energy globally."
ABOUT CECO ENVIRONMENTAL
CECO Environmental is a leading global environmental technology company focused on critical solutions in the air pollution control (APC), energy and fluid handling and filtration industries. Through its well-known brands, CECO provides a wide spectrum of products and services including dampers & diverters, cyclonic technology, thermal oxidizers, filtration systems, scrubbers, fluid handling equipment and plant engineered services and engineered design build fabrication. These products play a vital role in helping companies achieve exacting production standards, meeting increasing plant needs and stringent emissions control regulations around the globe. CECO globally serves the broadest range of markets and industries including power, municipalities, chemical, industrial manufacturing, refining, petrochemical, metals, minerals & mining, hospitals and universities. CECO is focused on building long-term shareholder value by bringing its unique technology, portfolio and operational excellence to strategic key growth markets around the world, while maintaining the highest standards of employee development, project execution and safety leadership. CECO is listed on NASDAQ under the ticker symbol "CECE" and is a member company of the Russell 2000 Index. For more information on CECO Environmental, please visit the company's website at http://www.cecoenviro.com.
Jeff Lang, Chief Executive Officer
Ed Prajzner, Chief Financial Officer
The Blueshirt Group
Phone: (415) 489-2198
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All forward-looking statements are subject to certain risks, uncertainties and assumptions. These risks and uncertainties, which are more fully described in CECO's Annual and Quarterly Reports filed with the Securities and Exchange Commission, include changes in market conditions in the industries in which the Company operates. Should one or more of these risks or uncertainties materialize, or should the assumption prove incorrect, actual results may vary in material aspects from those currently anticipated.
SOURCE CECO Environmental Corp.